Bank Of India Clerk Questions And Answers
Dear aspirants if you want to crack Interview for Bank of India, then you should know the type of questions that are asked in interview process of bank. To help you in this situation, we are providing Bank of India Clerk Interview Questions and Answers for Preparation. Aspirants must go through all these questions below to assure their selection in the bank.
Interview Questions and Answers
Q-1. Why should we hire you?
Ans. The Interviewer wants to know your appropriateness for the job so you should tell about your Strong points and achievements so far. Do not speak anything which is not correct about you. Don’t use phrases like “This is the excellent Company” or “I like to work in this field?” Instead, tell good things about you which are associated to that job and this will certainly verify your effectiveness.
Q-2. Where do you see yourself after five years from now?
Ans. The interviewer checks your knowledge about career course in the job including what is your passion of dedication to the job they are offering you. Your answer should be realistic. Instance of a horrible reply is “I will be at your place after five years”. Rather you should tell answer in a manner that assures your willingness in making a long-term pledge towards the work and equally valuable connection with them.
Q-3. Why did you choose to work in a bank?
Ans. This is a very ordinary question and is asked to about 90% of contenders. Here, the interviewer evaluates your level of motivation of working in an organization. Never directly say that “I have not got a job in a Private organization” or “There is much of stress in Private jobs and government jobs are secure and safe.” Relatively you should answer practically to demonstrate your real aspiration of working in a bank.
Q-4. What is the distinction between Cheque and Demand Draft?
Ans. A cheque is mainly issued by an entity while a draft is issued by the banking organization. In a demand draft you need to pay before issuing whereas a cheque needs a withdrawal from the account.
Q-5. What is the difference between Private bank and Nationalized bank?
Ans. Nationalized banks are also termed as public sector banks where the responsibility to deposit money in the bank is of the government whereas in a private bank a person who owns the bank deposits the money in it.
Q-6. What do you know about Sensex and NIFTY?
Ans. Sensex and Nifty both function like “index”. Index is a term that acts as an indicator which provides a general idea about the rise and fall of stock level. Nifty is an indicator of NSE (National Stock Exchange) whereas Sensex is an indicator of BSE (Bombay Stock exchange).
Q-7. What do you understand by Repo rate and Reverse Repo Rate?
Ans. The rate at which RBI gives money to the banks as loan is called Repo rate whereas the rate at which RBI borrows money from a commercial bank is called Reverse Repo Rate.
Q-8. Define the term Fiscal deficit?
Ans. When the total expenses of the government is more than the income it generates then it is called Fiscal deficit. It is different from debt because debt is a set of yearly deficits.
Q-9. Define SLR rate?
Ans. SLR Rate is the smallest amount or percentage of deposits which the bank has to place with the RBI in the shape of money, gold or permitted security.
Q-10. Define the term Bank Rate?
Ans. The interest rate at which Reserve Bank of India permits finance to commercial banks is called Bank Rate.
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